Omara Ventures India Ltd. IPO

Omara Ventures India

• Omara Ventures India is coming out with an initial public offering (IPO) of 13,50,000 equity shares in a price band of Rs 296-311 per equity share.
• The issue will open on September 30, 2026 and will close on October 05, 2026.
• The shares will be listed on SME Platform of BSE.
• The face value of the share is Rs 10 and is priced 29.60 times of its face value on the lower side and 31.10 times on the higher side.
• Book running lead manager to the issue is Wealth Mine Networks.
• Compliance Officer for the issue is Payal Agrawal.

Profile of the company

Omara Ventures India is a retail jewellery business engaged in selling a range of diamond jewellery made using natural diamonds and precious and semi-precious gemstones, set in precious metals such as gold, Platinum and silver. Its jewellery is marketed and sold under its brand name “Omara” and is primarily offered through its retail boutique. The company’s product portfolio comprises a range of diamond jewellery products, including necklaces, earrings, rings, bracelets and other jewellery products, catering to varied customer preferences, age groups and occasions. Its offerings include wedding jewellery, special occasion jewellery, festive jewellery and contemporary daily-wear jewellery, designed across various price points to suit different customer requirements. Through its product offerings, it aims to combine traditional elegance with modern aesthetics, offering jewellery that reflects craftsmanship, exclusivity and contemporary design preferences.

The company’s business model is centred around in-house product conceptualisation, design development, customer preference analysis, product curation and retail merchandising. It focuss on developing designs that appeal to customers seeking luxury, personalisation and exclusivity, particularly for weddings, festive occasions, gifting and daily wear. The company has entered into a product development and supply arrangement with its product development and supply partner for the development and supply of jewellery in accordance with its approved designs, specifications and quality standards. This arrangement enables it to maintain consistency in craftsmanship, design execution, finishing and product quality.

It also provides customisation services, allowing customers to personalise jewellery designs based on their individual requirements, preferences and occasions. This enables it to offer differentiated, design-led and customer-centric jewellery solutions while maintaining quality, craftsmanship and design integrity. Its product philosophy is centred on curated and design-led creations, where each collection comprises select designs developed in limited quantities, thereby preserving exclusivity, design distinctiveness and the premium positioning of the Omara brand.

Proceed is being used for:

• Funding capital expenditure requirements towards Renovation and Expansion of the Jewellery Boutique
• Marketing and promotional expenses aimed at enhancing local brand awareness and visibility of its flagship brand, “OMARA”
• Funding towards repayment or prepayment, in full or in part, of borrowings availed by the company from bank and financial institutions
• Funding the long-term working capital requirements of the company
• General corporate purposes

Industry Overview

India’s gold and diamond trade contributes about 7% to the country’s Gross Domestic Product (GDP), with the Gems & Jewellery sector employing nearly five million people. Recognising its immense potential for growth and value addition, the Government has identified the sector as a focus area for export promotion. To strengthen ‘Brand India’ in the global market, several initiatives have been introduced, including measures to promote investment, upgrade technology, and enhance skills. The Government has also permitted 100% FDI in the sector under the automatic route, allowing foreign investors and Indian companies to invest without prior approvals. Further, the India-United Kingdom (UK) Comprehensive Economic and Trade Agreement (CETA), signed in July 2025, has eliminated import duties of 2.5-4% on plain gold and diamond jewellery, giving Indian exporters a competitive edge and expected to more than double India’s Gems & Jewellery exports to the UK to Rs 21,183 crore ($2.5 billion) by 2027. 

India’s Gems & Jewellery market size stood at Rs 7,31,255 crore ($85 billion) in January 2026 and is projected to expand to Rs 11,18,390 crore ($130 billion) by 2030. During FY26 (April-February 2026), India's gems and jewellery exports stood at $25.93 billion. The latest growth momentum is being driven by increasing global demand for gold jewellery and cut & polished diamonds, supported by favourable trade agreements and rising consumer spending in key markets such as the US, UK, and the Middle East.

The future of India’s Gems & Jewellery sector will be shaped by the growing dominance of large retailers and established brands, which are steadily expanding their presence across the country. Organised players are not only introducing greater variety in terms of designs and product lines but are also driving higher levels of professionalism, transparency, and consumer trust in the market. Policy support remains a key growth catalyst. The government’s liberal measures, such as easing restrictions on gold imports, reintroducing low-cost gold metal loans, and promoting exports through favourable trade agreements, are providing a strong foundation for sustained expansion.

Pros and strengths

Curated and design-led jewellery portfolio: The company offers a curated portfolio of diamond jewellery products, including necklaces, earrings, rings, bracelets and other jewellery products, catering to weddings, festive occasions, special occasions, gifting and contemporary daily wear. The company’s product portfolio comprises traditional as well as modern design aesthetics, enabling it to address varied customer preferences, age groups and price segments. Its focus is on selectively introduced designs and curated collections, rather than repetitive or mass-market offerings. This enables it to maintain design distinctiveness, product relevance and the premium character of the “Omara” brand.

In-house product conceptualisation and design focus: The company’s business model is centred around in-house product conceptualisation, design development, customer preference analysis, product curation and retail merchandising. Its team evaluates evolving design trends, occasion-based requirements, customer preferences, diamond and gemstone placement and size, metal usage, wearability and price positioning while conceptualising jewellery products. This in-house design-led approach enables it to retain control over product aesthetics, design direction and brand positioning, while offering jewellery that reflects craftsmanship, elegance and contemporary customer expectations.

Established retail boutique and operational infrastructure: The company’s Registered Office and retail boutique are located in Chandigarh and are equipped with the necessary infrastructure to support its business operations. The company’s premises include retail display infrastructure, accounting and inventory management systems, communication facilities, security arrangements and other facilities required for retail, administrative, inventory management and customer service operations. Considering the high-value nature of jewellery products, its IT-enabled inventory systems, barcode-based tracking, CCTV surveillance, access control arrangements and secure display and storage facilities support operational control, inventory monitoring and risk management.

Risks and concerns

Dependence on top suppliers for raw materials: The company is dependent on its suppliers for uninterrupted supply of Raw-Materials. The company has procured 84.30%, 78.47% and 84.24% of its raw material from top 5 suppliers in FY26, FY25 and FY24 respectively. Any shortfall in the supply of its raw materials, or an increase in its raw material costs and other input costs, may adversely affect the pricing and supply of its products with subsequently having an adverse effect on the business, results of operations and financial conditions of the company.

High regional concentration of business: The company generates a significant portion of its revenue from customers located in Chandigarh. Accordingly, the company’s business performance is substantially dependent on the economic conditions, customer demand, consumer preferences and market environment prevailing in this region. The company has garnered 82.92%, 93.22% and 78.29% of its total revenue from Chandigarh in FY26, FY25 and FY24 respectively. Any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.

Significant revenue concentration in Solitaire and Diamond Jewellery: The company’s revenue has historically been concentrated in the Solitaire and Diamond Jewellery segment, which contributed 96.31%, 89.82% and 66.96% of its total sale of products for Fiscal 2024, Fiscal 2025 and Fiscal 2026, respectively. Although the contribution from Gold Jewellery has increased in Fiscal 2026, its business continues to derive a substantial portion of its revenue from the Solitaire and Diamond Jewellery segment. However, any reduction in demand for this product category could adversely affect its business, financial condition and results of operations.

Outlook

Omara Ventures India is a retail jewellery company engaged in the sale of diamond jewellery made using natural diamonds and precious and semi-precious gemstones, set in precious metals such as gold, platinum and silver. The company operates under the brand name “Omara” and primarily caters to business-to-consumer (B2C) customers through its retail boutique. The company has customer-centric retail and customisation experience. The company has emphasis on quality, certification and product authenticity. On the concern side, a significant portion of its revenue has historically been generated from the sale of Solitaire and Diamond Jewellery. Any reduction in demand for this product category could adversely affect its business, financial condition and results of operations. Moreover, the company generates its major portion of sales from its operations in certain geographical regions especially, Chandigarh. Any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.

The company is coming out with a maiden IPO of 13,50,000 equity shares of Rs 10 each. The issue has been offered in a price band of Rs 296-311 per equity share. The aggregate size of the offer is around Rs 39.96 crore to Rs 41.99 crore based on lower and upper price band respectively. On performance front, the company’s revenue has increased from Rs 2,319.36 lakh in FY 2023-24 to Rs 2,352.47 lakh in FY 2024-25, and further to Rs 4,587.35 lakh during FY 2025-26. Moreover, Profit After Tax (PAT) stood at Rs 31.11 lakh in FY 2023-24, increased to Rs 273.16 lakh in FY 2024-25, and further rose to Rs 936.53 lakh in FY 2025-26.

Meanwhile, the company intends to continue strengthening the visibility and recall of the “Omara” brand by focusing on curated jewellery collections, refined retail presentation, customer engagement and selective brand communication. Its objective is to position “Omara” as a trusted designer jewellery brand offering well-crafted, distinctive and thoughtfully designed jewellery. It proposes to continue undertaking brand-building initiatives through its retail boutique, private client interactions, exhibitions, curated events, digital presence and relationship-led customer engagement. Going forward, the company intends to further strengthen its customisation offerings by enabling customers to personalise jewellery designs based on their preferences, occasions and requirements. Customised jewellery allows it to offer differentiated products and deepen customer engagement.

Riwind Green Energy has informed that the 35th Annual General Meeting (‘AGM’) of the Members of the Company was held on Wednesday, 30th September 2026 at 02:30 pm (IST) through Video Conferencing (‘VC’) / Other Audio-Visual Means (‘OAVM’), to transact the businesses as stated in the Notice convening the 35th AGM. Riwind_AGM_Notice_2026. The company has enclosed the Proceedings of the 35th Annual General Meeting of the Company. The voting results of the resolutions considered at the AGM, along with the Scrutinizer’s Report, shall be submitted separately in accordance with the applicable provisions of Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, upon completion of the prescribed voting process. The Notice provides that the Scrutinizer's report and voting results are to be completed by/on or before 2nd October 2026.

The above information is a part of company’s filings submitted to BSE.